Bursa Malaysia will see cautious trading this week

KUALA LUMPUR, April 17 (Bernama): Bursa Malaysia is expected to see cautious trading this week amid a lack of major catalysts to influence investors’ risk appetite.

Rakuten Trade Sdn Bhd Vice President of Equity Research Thong Pak Leng said the local market will see headwinds next week amid rising regional volatility.

“Nevertheless, we believe that the inventory accumulation will persist during the dips,” he told Bernama.

Meanwhile, Bank Islam Malaysia Bhd’s chief economist, Mohd Afzanizam Abdul Rashid, said the index was struggling to try to break the psychological level of 1,600 points.

“I think the similar dynamic will continue into next week as investors continue to be more anxious heading into the May 3-4 Federal Open Market Committee (FOMC) meeting.

“In short, there’s not a lot of positive vibes at the moment. Perhaps fund managers would prefer to hold more cash at this stage given the lingering uncertainties,” he added.

For the week just ended, Mohd Afzanizam said foreign fund flows had net sales on the local stock exchange on April 13-14, net sales of RM22.29 million and RM41.83 million. of RMs that have been reported.

From Friday to Friday, the FBM KLCI slipped 18.28 points to end the week at 1,589.01 from 1,607.29 the previous week.

On the index chart, the FBMT100 index fell 139.28 points to 11,061.34, the FBM Emas Shariah index fell 155.02 points to 12,047.57 and the FBM Emas index slipped from 137.89 points to 11,413.70.

Meanwhile, the FBM ACE contracted 74.98 points to 5,786.50 and the FBM 70 fell 222.50 points to 13,781.35.

On a sector level, the plantations index erased 1.67 points to 8,355.27, the industrial goods and services index remained unchanged at 214.47 and the energy index fell by 6, 27 points at 751.27.

The financial services index lost 146.33 points to 16,636.0, the healthcare index lost 77.76 points to 2,087.45 and the technology index lost 4.19 points to 72. ,44.

Weekly sales increased to 17.33 billion units worth RM10.46 billion from 16.94 billion units worth RM11.29 billion last week .

Main market volume decreased to 11.55 billion shares worth RM9.33 billion from 11.73 billion shares worth RM10 billion the previous week.

Warrant volume decreased slightly to 1.46 billion units valued at RM236.16 million from 1.61 billion units valued at RM257.69 million previously.

ACE market volume reached 4.30 billion shares worth RM889.94 million, up from 3.58 billion shares worth RM1.03 billion the previous week. – Bernama

Garland K. Long